Three member chambers resign from SACCI

PUBLISHED: Wed, 10 May 2017 13:13:50 GMT

The South African Chamber of Commerce and Industry (SACCI) has confirmed that three local and regional chambers of commerce have resigned from the national chamber. These are the Ekurhuleni Chamber of Commerce and Industry, the Northern Cape Chamber of Commerce and Industry, and the Pietermaritzburg Chamber of Business. 

The three chambers have made allegations of financial and governance irregularities at SACCI, which the Chamber refutes. SACCI has therefore taken legal action calling for a retraction of these accusations, which have no basis in fact. Further information regarding this action will be issued in due course. 

SACCI President, Zeph Ndlovu, has said that the resignations and the circumstances surrounding them are no cause for alarm and that the Chamber’s remaining members are united. He has also disputed claims of financial irregularities at the Chamber, saying that they are not only false but defamatory. Court actions dealing with these accusations in particular are currently in progress and, again, further information will be issued as these progress. 

SACCI is the largest chamber of commerce and industry in the country and, through its nearly 50 local and regional members and its 15 national members, represents a total membership of some 20,000 small, medium and large businesses. It is a well-established and reputable organisation that operates within the confines of a registered Memorandum of Incorporation and the provisions of the Companies Act. It also adheres to the highest level of corporate governance, guided by the codes set out in the King Reports on Corporate Governance (King III and King IV). 

Sign Up for Our Newsletter Daily Update
Get the best of CNBC Africa sent straight to your inbox with breaking business news, insights and updates from experts across the continent.
Get this delivered to your inbox, and more info about about our products and services. By signing up for newsletters, you are agreeing to our Terms of Use and Privacy Policy.